The #1 Reason Not To Wait To List Your Home For Sale
Dated: October 14 2020
Views: 1251
Many industries have been devastated by the economic shutdown caused by the COVID-19 virus. Real estate is not one of them!
Buyer demand is still strong heading into the fall. ShowingTime, which tracks the average number of buyer showings on residential properties, just announced that buyer showings are up 61.9% compared to the same time last year. They went on to say:
“Normally, real estate activity begins to slow down in the late summer, but this year it peaked in July, August and into September.”
There Is One Big Challenge.......
Purchaser demand is so high, the market is running out of available homes for sale. Just last week, realtor.com reported:
“Since the beginning of the COVID pandemic in March, nearly 400,000 fewer homes have been listed compared to last year, leaving a gaping hole in the U.S. housing inventory.”
The National Association of Realtors (NAR) revealed that, while home sales are skyrocketing, the inventory of existing homes for sale is dropping dramatically. Below is a graph of existing inventory (September numbers are not yet available):
Homebuilders are increasing construction, but they cannot keep up with the high demand. Bill McBride, founder of the Calculated Risk blog, in discussing inventory of newly constructed houses, notes:
“The months of supply decreased to 3.3 months…This is the all-time record low months of supply.”
What does this mean for sellers???
Anyone thinking of putting their home on the market should not wait!!! A seller will always negotiate the best deal when demand is high and supply is limited. That’s exactly the situation in the real estate market today.
Next year, when the pandemic is hopefully behind us, there will be many more properties coming to the market. Don’t wait for that increase in competition in your neighborhood. Now is the time to sell.
Bottom Line
Reach out to me TODAY (919) 275-0499 or meaghan@myhtr.com to get your house on the market at this optimal time to sell.
Meaghan Stavrianakis
I’m a Realtor/Broker with HomeTowne Realty Clayton East in Clayton, NC. I provide home-buyers and sellers with professional, responsive and attentive real estate services in the Triangle Area. W....
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